Courses

Nationally Accredited Qualifications

Accounting Principles Skill Set FNSSS00014

7 Units to Complete

TBST have sequenced the units of the Qualification in an order that builds the students skills and knowledge in a cumulative manner. As the student
progresses through the Skill Set, the skills and knowledge obtained from a previous unit will then assist them in achieving competence in the
subsequent units. For example, students start out with lower level units and build up to more complex units, tasks and assessments.

This unit describes skills and knowledge required to record general journal adjustment entries and to prepare end of period financial reports. It applies to individuals employed in a range of work environments who are responsible for preparing financial reports. They may be individuals providing administrative support within an enterprise, or they might have responsibility for these tasks in relation to their own workgroup or role. No licensing, legislative or certification requirements apply to this unit at the time of publication.

This unit describes the skills and knowledge required to prepare and process routine financial documents, prepare journal entries, post journal entries to ledgers, prepare banking and reconcile financial receipts, and extract a trial balance and interim reports. It applies to individuals who use specialised knowledge and follow agreed processes to carefully check and process detailed financial information to ensure standards are maintained. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Range of industry-accepted accounting conventions, processes and procedures for the work tasks described in the performance evidence

Standard industry banking procedures and guidelines, including: form of ‘proof of lodgement’ for different deposit methods, industry-accepted security and safety precautions appropriate to banking method, Key features of legislative and regulatory requirements relating to processing financial transactions

This unit describes the skills and knowledge required to reconcile and monitor subsidiary accounts in financial accounts receivable systems, identify bad and doubtful debts and plan a recovery action, record creditor invoices, and remit payments to sundry creditors. It applies to individuals who use specialised knowledge and follow agreed processes to problem solve within the scope of own responsibility. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Unit Topics Include:

Reconcile and monitor subsidiary accounts according to industry compliance requirements and organisational policies and procedures, including: using required data entry and reporting systems to perform account and ledger administration activities, following organisational data validation and reconciliation processes and analysing outcomes of the reconciliation for required actions, identifying bad and doubtful debts in a timely manner, planning effective debt recovery actions.

Key features of debits and credits, and their role in accounting systems

This unit describes the skills and knowledge required to work autonomously and in teams to complete work activities relating to the provision of accounting and bookkeeping services. It applies to individuals who occupy roles with some responsibility and use a range of research and organisational techniques to establish and carry out their work requirements in the accounting industry. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Unit Topics Include:

Establish and maintain effective relationships with clients and colleagues

Research and identify organisational policies and procedures relevant to own role

Develop systems and guidelines for work procedures that comply with legislative requirements

Analyse, evaluate and organise information required for own role

Effectively plan work and contribute to team environment, taking into account constraints and available resources

Identify and evaluate opportunities for own professional development.

Avenues for identifying other professionals in the accounting and bookkeeping industry

Requirements of accounting and bookkeeping industry codes of practice

Policies and procedures required for own role in the accounting and bookkeeping industry

This unit describes the skills and knowledge required to establish, operate, and modify an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions in the system, maintaining the system, producing reports, and ensuring system integrity. It applies to individuals who, within the scope of own responsibility, use specialised knowledge, information technology, and planning and organising skills to establish and maintain an organisational system in service and trading environments. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Topics Include:

Set up the chart of accounts for one organisation by modifying an established integrated financial software system

This unit describes the skills and knowledge required to identify and apply compliance requirements to effectively process and complete business activity statements (BAS), instalment activity statements (IAS), and other required reports. It applies to individuals who use a range of organisational and analytical techniques to work in organisations or to supply specific bookkeeping services as a small business owner or contractor. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet the education requirements of the Tax Practitioner Board (TPB). Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Unit Topics Include:

Research, critically evaluate, and apply changes to current or new legislative or professional conduct requirements when preparing business activity statements (BAS)

Identify financial transactions required to prepare activity statements and apply the principles and classifications of the goods and services tax (GST)

This unit describes the skills and knowledge required to record and prepare payroll documentation, respond to enquiries, and process payroll data for manual and computerised systems. It applies to individuals, including BAS agents, who use a range of organisational and other specialist techniques. They may work directly for organisations or be small business owners, contractors or service providers. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet the education requirements of the Tax Practitioner Board (TPB). Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Unit Topics Include:

Identify, calculate and input data from time-recording systems for payments into manual or computerised payroll systems

Produce a payroll report according to organisational and legislative requirements

Present a payroll report for verification and approval

Maintain records according to organisational and legislative requirements that relate to security and confidentiality of information.

Organisational policy and procedures that affect payroll, including the structure of authority in organisations

Industry codes of practice relevant to payroll operations

Key features of manual and computerised payroll systems

Legislative and record-keeping requirements from all levels of government that affect business operation and reporting requirements, especially in regard to: Fair Work Act, National Employment Standards, Superannuation Guarantee (Administration) Act, corporations law, workers compensation and work health and safety, state payroll tax relating to payroll activities, Privacy Act and requirements relating to confidentiality and security of records, Higher Education Loan Program (HELP), Medicare levy, Tax Agent Services Act (TASA), current commonwealth, state and territory industry and modern awards, and enterprise bargaining agreements, individual employment agreements, commonwealth, state and territory leave Acts, including annual, personal, paid parental and long service, Australian Bureau of Statistics (ABS) Act

Professional Partner Associations

TBST is a proudly accredited training provider by a number of professional associations and software vendors including, Xero, Quickbooks & MYOB.

A professionally associated course gives you confidence that you are receiving the very latest knowledge to broaden your career prospects.
For more information about a particular course see the Courses section of our website or contact us directly either through our online form or via phone.

vendor accreditation

professional associations

Course Enrolments Include

BAS Agent Skill Set

We provide students with the qualification skill set required under the BAS Services Provider legislation